Can the EU become a leader in AI Technology?
Welcome to the MoFo Tech Blog
MoFo Tech brings together legal insights and in-depth analyses on trends and complex issues shaping the global technology industry, covering fields such as blockchain and distributed ledger, cloud and SaaS technologies, driverless cars, drones, FinTech, computer hardware and software, the IoT, semiconductors, and telecommunications.
- The European Commission has stated that it wants to establish the EU as a leader in the AI industry in order to, among other things, discontinue non-EU companies’ dominance of the EU tech market. Nevertheless, the Commission’s goals for increasing the use of AI... ›
UK PRA's 'Dear CEO' Letter on Exposure to Crypto-Assets
On 28 June 2018, the United Kingdom Prudential Regulation Authority (PRA) published a letter to the CEOs of banks, insurance companies and designated investment firms to communicate the PRA’s expectations regarding firms’ exposure to crypto-assets. In particular, the letter flagged the risks associated with... ›Privacy Across the Atlantic: Comparing the EU GDPR and California Consumer Privacy Act of 2018 - A Morrison & Foerster Data Protection Webinar
By: Julie O'Neill
Just over a month after the EU General Data Protection Regulation (GDPR) took effect, California passed its own sweeping privacy legislation, the California Consumer Privacy Act of 2018. The Act stands to affect countless global companies doing business in California, many of which recently... ›Announcing the Global Financial Innovation Network
On 7 August, 2018, the UK’s Financial Conduct Authority (FCA) announced that it has, in collaboration with 11 other financial regulators and related organisations, including the Monetary Authority of Singapore and the Hong Kong Monetary Authority, created the Global Financial Innovation Network (GFIN) to... ›If Your Company Offers Streaming Services, You Should Be Aware that States and Localities Are Taking Different Approaches to Taxing Such Services
By: Rebecca M. Balinskas
Many states and localities are concerned that the proliferation of streaming services is shrinking tax revenues previously received from sales of traditional forms of entertainment. Those concerns are not unfounded. The rapid development of streaming services has drastically changed how people watch “television.” It... ›Treasury and the OCC Make Significant Fintech Announcements
By: Jeremy R. Mandell
Two key federal government announcements were made on July 31, 2018 related to fintech issues. First, the U.S. Department of the Treasury issued a press release announcing a report entitled “Nonbank Financials, Fintech, and Innovation.” The Report is the fourth and final in a... ›IP Protection Post BREXIT Part 2: A Right-by-Right Analysis
By: Wolfgang Schönig, Sana Ashcroft and Robert Grohmann
Progress is being made regarding the protection of intellectual property (“IP”) rights in a post-BREXIT scenario on both sides of the English Channel. With BREXIT fast approaching, the European Union (“EU”) and the United Kingdom (“UK”) have been pushing things forward at the negotiator... ›IP Protection Post BREXIT Part 1: A Right-by-Right Analysis
By: Wolfgang Schönig, Sana Ashcroft and Robert Grohmann
Progress is being made regarding the protection of intellectual property (“IP”) rights in a post-BREXIT scenario on both sides of the English Channel. With BREXIT fast approaching, the European Union (“EU”) and the United Kingdom (“UK”) have been pushing things forward at the negotiators... ›Payments and Lending: Trends to Convergence in the Indonesian FinTech Industry
Originally, there were no foreign ownership limits for a non-bank company to act as an e-Wallet provider, e-Money issuer or fund transfer operator, leading to an influx in applications from foreign owned providers in Indonesia. On 7 May 2018, Bank Indonesia (“BI”) published a... ›Managing Corporate AI
By: Stephanie Lynn Sharron
When companies employ artificial intelligence technologies they have to be mindful of the legal and ethical problems those technologies might cause. While the scope of legal concerns surrounding AI technologies’ impact is broad, of particular concern are instances of unlawful bias and discrimination, privacy... ›